i) Achieved 28% volume growth in terry towels
ii) Highest ever revenue of Rs 4839 crore, up 29%
iii) Highest ever EBITDA of Rs 992 crore, up 30%
iv) Highest ever PAT of Rs 337 crore, up 39%
v) Cash accrual up 29% to Rs 749 crore
vi) Net debt declined by Rs 706 crore
vii) Net debt equity ratio – 1:1
In the last quarter of FY17, Trident's net revenue of Rs 1330 crore, was up 16% compared to Rs 978 crore in Q4FY16. This was led by 40% growth in home textiles segment, which earned a revenue of Rs 1055.8 crore compared to Rs 753.5 crore in the corresponding quarter of last financial year.
This was the result of strong volume growth in terry towels and yarn across markets as a result of sustained focus and efforts on marketing, designing as well as product innovation. EBITDA increased by 27% to Rs 262 crore during Q4FY17 from Rs. 206 crore in Q4 FY16. The company's finance Cost reduced by 3% to Rs 141 crore in FY17 vis-à-vis Rs 145 crore in FY16. In FY17, the company has repaid Rs 576 crore, including Rs 227 crore of high cost debt.
Healthy free cash flow generation led to repayment of Rs 132 crore in Q4 FY17, which includes high cost debt to the tune of Rs 68 crore during the quarter. The company's strategy towards better working capital utilisation and interest equalisation reduced overall interest costs. Net debt as on March 31, 2017 stood at Rs 2714 crore compared to Rs 3421crore as on March 31, 2016. The company has reported a 39% higher PAT at Rs 337 crore in FY17 compared to Rs 242 crore in FY16.
Trident Group Chairman Rajinder Gupta said, "Our strategic initiatives of expanding our global footprint and widening our product offerings in the home textile space, helped us yield desired results. Going forward our focus is on utilising bed and bath capacities, generating free cashflow and improving our return ratios. There might be some headwinds pertaining to rupee appreciation and global uncertainties, but overall we foresee buoyant times for our stakeholders as we strive to create value for them."